INVESTMENT Z INSIGHT

INVESTMENT Z INSIGHT Monthly Investment Update June 2016 Fund Performance Equity - Large Cap Funds Equity - Mid Cap Funds Index Linked Funds Blue Chip Equity Funds Pure Equity Funds Asset Allocation Funds Max Gain Funds Debt Funds Cash Funds Guaranteed Bond Funds Growth Plus Funds Shield Plus Funds Assured Return Funds Bajaj Allianz Life Insurance Company Limited

Monthly Investment Update June 2016 INVESTMENT Z INSIGHT CIO Comments Sampath Reddy, CFA CIO, Bajaj Allianz Life Insurance Macro-economic developments Britain in a referendum decided to leave European Union (EU) with 51.9 Leave votes against 48.1 R e m a i n v o t e s ; w h i c h w a s i n contrast to market expectations and brought turmoil to global financial markets. RBI Governor Raghuram Rajan announced in June not to opt for 2nd term as RBI Governor when his current term ends on September 4, 2016. The Government is expected to announce Rajan s successor by mid-july. Liquidity in the system has eased from deficit of Rs 302,226 crore in end of March to deficit of Rs 4,331 crore in end of June, on account of government spending and RBI infusing liquidity in the system by conducting OMO purchases. Fiscal deficit for April - May 2016 was 2.29 lakh crore viz. 42.9 of 5.34 lakh crore of the budgeted fiscal deficit for FY17 (against 37.5 during the same period last year). May CPI inflation rose to 5.76 YoY as against 5.47 in April; primarily on account of rise in food inflation to 7.55 YoY in May as against 6.40 in April. IIP contracted by 0.8 in April as against growth by 0.3 in March, primarily due to Manufacturing sector contracting by 3.1 in April. 7th Pay Commission recommendations have been accepted by the Government, which would result in payout of ~Rs 85,000 crore in FY17 as part of Pay, Pension and arrears payout to government employees. The amount excludes allowance payout which is to be determined by a committee formed by the Government within 4 months. US Fed maintained status quo in its June FOMC meeting. In light of the recent Brexit referendum, US Fed is expected to slow the pace of future hikes. B r e n t c r u d e c l o s e d f l a t i n J u n e t o c l o s e a t USD49.68/barrel; versus USD49.69/barrel in May. INR weakened in June to close at INR67.53/USD; versus INR67.26/USD in May, down 0.4 during the month. Equity market developments and Outlook The Nifty continued to post gains for the 4th consecutive month in June, rising by 1.6 in the month. The index closed in the positive zone in 13 of the 22 trading sessions that were held during the month. The Nifty has risen by a sharp 18.6 during the last four months, recouping the losses that were seen during Apr 15-Feb 16. The broader markets outperformed the benchmark index; the CNX 500 rose by 2.6 in June. Smallcap stocks posted spectacular gains; the CNX smallcap index rose by a sharp 11.4 in the month. Midcap stocks also outperformed the benchmark index, with the CNX midcap index rising by 3.9 in the month. FIIs continued to buy into Indian equities for the 4th consecutive month in June. Their purchases exceeded sales by US$771mn in the month. DIIs, on the other hand, sold out of Indian equities in June. Their equity sales exceeded purchases by US$13mn in the month. DIIs have sold out of Indian equities in 3 of the last 4 months. The S&P BSE metals and realty indices were the top performers in June, rising by 7.2 and 7.9, respectively. The FMCG, energy and banking indices rose by 5.1, 3.5 and 2.1, respectively. The S&P BSE IT index (-3.3) was the worst performer. The performance of world equity markets was mixed in June. US indices posted gains, while Europe and Japan closed lower. Fixed Income market developments and Outlook 10 year G-Sec yields closed lower at 7.45 in May v/s 7.47 in May, primarily on account of expectations of global central banks to provide liquidity through accommodative policies subsequent to Brexit and expectations of continued monetary easing by RBI in view of appointment of new RBI Governor. RBI conducted OMO purchase of Rs 80,000 crore in April June, to ease liquidity in line with RBI s view to move from a liquidity deficit position to a position closer to neutrality. We believe that CPI inflation readings would continue to be benign on expectations of above normal rainfall this monsoon as per IMD forecast, with RBI maintaining CPI inflation target for 2016-17 at 5. We expect the RBI to continue its accommodative stance, with another rate cut expected in CY 2016. Key factors to watch out for will be - any sustained uptick in commodity prices (especially crude), fallout of Brexit, US elections, constitution of monetary policy committee, appointment for new RBI Governor and impact of the 7th Pay commission on inflation and fiscal targets. In view of the improving macro-economic dynamics, policyholders would be well placed to benefit from the economic revival and further rate cuts going forward, if they continue to remain invested in the India growth story.

Fund Performance FUND PERFORMANCE ASSET PROFILE Asset Class Asset Allocation Fund Cash Funds Debt Funds Equity Funds Large Cap Equity Mid Cap Index Funds Ethical Funds 58.8 0.0 0.0 88.4 92.8 98.1 81.4 Money Market Instruments 4.6 76.8 3.0 11.6 7.2 0.1 18.6 2.1 23.2 0.0 0.0 0.0 0.0 0.0 Non Convertible Debentures 14.1 0.0 35.3 0.0 0.0 0.0 0.0 Govt Securities 20.4 0.0 61.6 0.0 0.0 0.0 0.0 Others 0.0 0.0 0.0 0.0 0.0 1.8 0.0 Grand 100 100 100 100 100 100 100 Absolute Return Return Type FUND NAMES SFIN Code 1 Month 3 month 6 month 1 Year 2 Year 3 year 5 Year since Inception Date Inception Asset Allocation Asset Allocation Fund ULIF04528/09/07ASSETALLOC116 1.91 6.34 5.38 4.34 10.03 15.84 11.42 9.99 1-Oct-07 Asset Allocation Asset Allocation Fund II ULIF07205/12/13ASSETALL02116 1.86 6.46 5.41 4.78 12.43 NA NA 12.64 31-Mar-14 Asset Allocation Asset Allocation Pension Fund ULIF04628/01/08ASALLOCPEN116 1.95 6.43 5.49 4.34 10.49 16.62 11.94 9.89 27-Jan-08 Crisil Balanced Fund Index 1.35 5.50 4.70 3.12 6.78 11.33 8.66 Cash Fund Cash Fund ULIF00215/01/04CASHFUNDLI116 0.45 1.38 2.83 6.14 6.36 6.57 6.87 6.22 15-Jan-04 Cash Fund Cash Plus Fund ULIF01023/07/04CASHPLUSFU116 0.63 1.95 3.90 8.22 8.43 8.58 8.80 8.22 23-Jul-04 Cash Fund Cash Plus Pension ULIF01618/11/04CASHPLUPEN116 0.64 1.95 3.94 8.12 8.23 8.52 8.79 8.52 18-Nov-04 Cash Fund Liquid Fund ULIF02510/07/06LIQUIDFUND116 0.59 1.82 3.67 7.81 8.13 8.32 8.53 8.54 10-Jul-06 Cash Fund Liquid Pension Fund ULIF04124/07/06LIQPENFUND116 0.63 1.92 3.87 7.92 8.01 8.22 8.49 8.61 24-Jul-06 Crisil Composite Liquid Index 0.64 1.88 3.90 7.90 8.33 8.78 8.63 DEBT FUNDS Debt Fund ULIF00415/01/04DEBTFUNDLI116 1.10 2.36 4.98 8.52 8.83 6.63 7.73 6.29 15-Jan-04 DEBT FUNDS Debt Plus Fund ULIF00923/07/04DEBTPLUSFU116 0.91 2.29 4.40 8.83 9.95 8.14 9.32 8.19 23-Jul-04 DEBT FUNDS Debt Plus Pension ULIF01518/11/04DEBTPLUPEN116 1.30 3.21 6.37 10.92 10.87 8.56 9.92 8.97 18-Nov-04 DEBT FUNDS Premier Debt Fund ULIF02317/12/05PRERDEBTFU116 1.07 2.35 4.93 8.72 8.85 6.79 7.94 7.63 17-Dec-05 DEBT FUNDS Life Long Gain ULIF01123/07/04LIFELOGAIN116 0.99 2.14 4.72 8.55 8.73 5.94 6.74 5.28 23-Jul-04 DEBT FUNDS Bond Fund ULIF02610/07/06BONDFUNDLI116 0.99 2.39 5.41 10.04 10.64 8.52 9.37 9.14 10-Jul-06 DEBT FUNDS Premier Bond Fund ULIF02821/07/06PREMIRBOND116 0.97 2.03 4.39 7.97 8.15 6.06 7.18 7.07 21-Jul-06 DEBT FUNDS Bond Pension Fund ULIF03524/07/06BONDPENFUN116 0.94 2.22 4.41 8.92 10.04 8.27 9.33 9.40 24-Jul-06 DEBT FUNDS Guaranteed Bond Fund ULIF06322/09/11GTEBONDFND116 0.72 2.23 4.49 9.03 9.53 8.06 0.00 8.93 5-Dec-11 Crisil Composite Bond Index 0.91 2.44 4.97 10.19 10.64 8.59 9.03 LARGE CAP Equity Gain Fund ULIF00523/07/04EQGAINFUND116 1.96 7.47 6.12 0.18 7.63 19.47 12.02 16.54 23-Jul-04 LARGE CAP Equity Plus Fund ULIF00723/07/04EQPLUSFUND116 2.07 7.90 7.92 2.73 9.66 19.04 12.58 17.53 23-Jul-04 LARGE CAP Equity Plus Pension ULIF01218/11/04EQUPLUSPEN116 2.05 7.77 6.86 1.31 9.66 18.25 13.10 18.65 18-Nov-04 LARGE CAP Premier Equity Gain ULIF02217/12/05PREREQGAIN116 2.00 7.66 6.09 0.62 8.95 17.29 12.13 13.70 17-Dec-05 LARGE CAP Equity Growth Fund ULIF02924/07/06EQGROWFUND116 1.94 7.66 6.98 1.54 9.03 18.10 12.77 11.87 24-Jul-06 LARGE CAP Equity Growth Fund II ULIF05106/01/10EQTYGROW02116 1.97 8.09 7.68 3.00 10.87 19.48 13.65 14.25 1-Jan-10 LARGE CAP Premier Equity Growth Fund ULIF03824/07/06PREMEQGROW116 1.95 7.39 5.98 0.20 8.18 16.57 11.43 11.42 24-Jul-06 LARGE CAP Equity Growth Pension Fund ULIF03624/07/06EQTYGROPEN116 2.10 7.91 6.83 1.42 9.31 18.41 13.16 13.23 24-Jul-06 LARGE CAP Growth Plus Fund III ULIF05926/10/10GROWPLUS03116 1.81 7.25 4.50-1.44 6.41 23.02 15.80 15.63 1-Nov-10 Cnx Nse Nifty Index 1.56 7.10 4.30-0.96 4.35 12.36 7.97 MID CAP Equity Midcap Fund ULIF01709/03/05EQUMIDFUND116 3.66 7.09-0.08 3.80 7.86 21.69 10.48 14.88 9-Mar-05 MID CAP Equity Midcap Plus ULIF01809/03/05EQUMIDPLUS116 3.78 7.41 0.62 5.34 9.49 24.48 12.54 18.23 9-Mar-05 MID CAP Equity Midcap Pension ULIF01909/03/05EQUMIDCPEN116 3.77 7.59 0.68 5.29 11.90 29.97 15.48 20.77 9-Mar-05 MID CAP Accelerator Mid Cap Fund ULIF03124/07/06ACCEMIDCAP116 4.48 8.48 2.11 7.41 9.80 28.31 14.14 14.97 24-Jul-06 MID CAP Accelerator Mid Cap Fund II ULIF05206/01/10ACCMIDCA02116 4.54 8.64 2.04 7.39 10.78 28.31 14.58 13.44 1-Jan-10 MID CAP Accelerator Midcap Pension Fund ULIF03324/07/06ACCEMIDPEN116 3.83 7.82 0.89 5.74 9.97 28.67 14.75 15.86 24-Jul-06 Nifty Mid Cap 50 Index 3.45 9.13 2.27 8.73 1.65 22.68 7.62 INDEX Equity Fund ULIF00315/01/04EQUITYFUND116 1.78 6.83 4.10-1.06 3.00 10.96 7.05 10.83 15-Jan-04 INDEX Equity Index Fund ULIF00623/07/04EQINDEFUND116 1.91 7.21 4.90 0.32 4.44 12.44 8.47 14.61 23-Jul-04 INDEX Equity Index Pension ULIF01318/11/04EQINDEXPEN116 1.91 7.19 4.95 0.37 4.61 12.65 8.66 13.88 18-Nov-04 INDEX Premier Equity Fund ULIF02117/12/05PRMREQFUND116 1.79 6.84 4.15-1.15 3.00 11.07 7.19 9.74 17-Dec-05 INDEX Equity Index Fund II ULIF03024/07/06EQTYINDX02116 1.90 7.12 4.27-0.61 3.87 11.79 7.58 10.19 24-Jul-06 INDEX Premier Equity Index Fund ULIF03924/07/06PREREQINDX116 1.74 6.62 3.75-1.77 2.34 10.12 6.35 8.66 24-Jul-06 INDEX Equity Index Pension Fund II ULIF03724/07/06EQINDPEN02116 1.90 7.21 4.82 0.09 4.20 12.15 8.11 10.24 24-Jul-06 INDEX Blue Chip Equity Fund ULIF06026/10/10BLUECHIPEQ116 1.85 7.11 4.67 0.02 3.99 12.11 8.98 6.54 1-Nov-10 Cnx Nse Nifty Index 1.56 7.10 4.30-0.96 4.35 12.36 7.97 Ethical Fund Pure Eq Fund ULIF02017/12/05PUREEQFUND116 3.27 7.15 2.61 3.31 14.12 24.00 15.35 15.96 17-Dec-05 Ethical Fund Pure Stock Fund ULIF02721/07/06PURESTKFUN116 3.22 6.97 3.02 3.46 14.00 24.69 15.94 16.48 21-Jul-06 Ethical Fund Pure Stock Pension Fund ULIF04717/04/08PURESTKPEN116 3.52 6.76 3.37 0.36 16.44 23.48 15.46 16.90 17-Apr-08 Cnx Nse Nifty Index 1.56 7.10 4.30-0.96 4.35 12.36 7.97

Equity-Large Cap Funds To provide capital appreciation through investment in select equity stocks those have the potential for capital appreciation. Company Name Very High Money Market Insruments 11.61 11.61 SHARES 88.39 H D F C Bank Ltd. Infosys Ltd. 8.85 7.49 - Equity: 60-100 - Bank deposits and money market instruments 0-40 Industry Profile I T C Ltd. Yes Bank Ltd. Tata Motors Ltd. Larsen & Toubro Ltd. Hindalco Industries Ltd. I C I C I Bank Ltd. Axis Bank Ltd. Hero Motocorp Limited Indusind Bank Ltd. 5.89 5.40 4.28 3.60 3.33 2.99 2.73 2.67 2.57 Banks & Financial Technology Auto & Ancillaries FMCG Oil&Gas Engg, Industrial & Cap Goods Metals & Mining Chemicals Pharmaceuticals Telecommunications Infrastructure Media Real Estate Transportation & logistics 6.08 5.70 5.29 4.33 2.93 1.86 1.08 0.80 0.53 0.21 12.82 12.57 17.98 27.84 H C L Technologies Ltd. Reliance Industries Ltd. Mphasis Ltd. Wipro Ltd. Nestle India Ltd. Pfizer Ltd. Tech Mahindra Ltd. Idea Cellular Ltd. 2.41 2.41 2.10 2.07 1.94 1.93 1.82 1.64 Akzo Nobel India Ltd. 1.45 Mahindra & Mahindra Ltd. 1.31 Godrej Consumer Products Ltd. 1.28 M R F Ltd. 1.17 National Aluminium Co. Ltd. Hindustan Unilever Ltd. 1.15 1.15 1.13 Gujarat State Petronet Ltd. 0.99 Money Market Instruments 11.61 Gayatri Projects Ltd. Other Shares Grand 0.95 11.70 100 100 88.39 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Equity Gain Fund 62.2341 1.96 7.47 6.12 0.18 7.63 19.47 16.54 Equity Plus Fund 68.8393 2.07 7.90 7.92 2.73 9.66 19.04 17.53 Equity Plus Pension 72.9884 2.05 7.77 6.86 1.31 9.66 18.25 18.65 Premier Equity Gain 38.7105 2.00 7.66 6.09 0.62 8.95 17.29 13.70 Equity Growth Fund 30.5006 1.94 7.66 6.98 1.54 9.03 18.10 11.87 Equity Growth Fund II 23.7622 1.97 8.09 7.68 3.00 10.87 19.48 14.25 Premier Equity Growth Fund 29.2987 1.95 7.39 5.98 0.20 8.18 16.57 11.42 Equity Growth Pension Fund 34.3879 2.10 7.91 6.83 1.42 9.31 18.41 13.23 Cnx Nse Nifty Index 1.6 7.1 4.3-1.0 4.3 12.4

Equity-Mid Cap Funds To achieve capital appreciation by investing in a diversified basket of mid cap stocks and large cap stocks. Company Name Very High Money Market Insruments SHARES Mphasis Ltd. 7.15 5.66 7.15 92.85 Indraprastha Gas Ltd. 5.60 M R F Ltd. Yes Bank Ltd. 4.92 4.76 - Equity: 60-100 of which not less than 50 will be in mid cap stocks - Bank deposits and money market instruments 0-40 K S B Pumps Ltd. Hindalco Industries Ltd. 2.96 2.75 Fiem Industries Limited 2.66 Indian Oil Corpn. Ltd. 2.47 Industry Profile H C L Technologies Ltd. National Aluminium Co. Ltd. 2.36 2.19 Banks & Financial Engg, Industrial & Cap Goods Oil&Gas Auto & Ancillaries Technology Metals & Mining Pharmaceuticals Telecommunications Media FMCG Chemicals Cement Sugar Textiles Hotel 7.02 5.32 3.81 3.67 3.01 2.77 1.25 1.09 0.29 0.28 11.61 16.29 14.74 14.71 14.15 Sundram Fasteners Ltd. Idea Cellular Ltd. Gujarat State Petronet Ltd. B A S F India Ltd. Aventis Pharma Ltd. Ujjivan Financial Services Limited Oil & Natural Gas Corpn. Ltd. Indusind Bank Ltd. 2.17 2.14 2.08 1.93 1.85 1.83 1.80 1.79 Ingersoll-Rand (India) Ltd. 1.72 Divis Laboratories Ltd. 1.70 Cholamandalam Investment & Finance Co. Ltd. 1.70 H T Media Ltd. 1.65 Suprajit Engineering Ltd. J S W Steel Ltd. 1.63 1.58 Procter & Gamble Hygiene & Health Care Ltd. 1.55 Hitachi Home & Life Solutions (India) Ltd. 1.45 Money Market Instruments 7 Castrol India Ltd. Torrent Pharmaceuticals Ltd. Other Shares 1.45 1.39 25.11 Grand 100 100 93 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Equity Midcap Fund 48.053 3.66 7.09-0.08 3.80 7.86 21.69 14.88 Equity Midcap Plus 66.5611 3.78 7.41 0.62 5.34 9.49 24.48 18.23 Equity Midcap Pension 84.6716 3.77 7.59 0.68 5.29 11.90 29.97 20.77 Accelerator Mid Cap Fund 40.024 4.48 8.48 2.11 7.41 9.80 28.31 14.97 Accelerator Mid Cap Fund Ii 22.6992 4.54 8.64 2.04 7.39 10.78 28.31 13.44 Accelerator Midcap Pension Fund 43.2057 3.83 7.82 0.89 5.74 9.97 28.67 15.86 Nifty Mid Cap 50 Index 3.5 9.1 2.3 8.7 1.7 22.7

Index Linked Funds To provide capital appreciation through investment in equities forming part of National Stock Exchange NIFTY Company Name Equity ETF Money Market Instruments 1.77 0.14 1.77 0.14 High SHARES 98.1 Infosys Ltd. 8.05 I T C Ltd. H D F C Bank Ltd. 7.84 7.64 - Equity: 60-100 - Bank deposits and money market instruments: 0-40 Reliance Industries Ltd. 5.90 5.27 Tata Consultancy Services Ltd. 4.33 Industry Profile I C I C I Bank Ltd. Tata Motors Ltd. 4.19 4.14 4.51 3.14 2.94 2.88 2.36 1.68 0.72 0.47 12.22 10.64 8.80 8.27 16.76 24.62 Larsen & Toubro Ltd. Sun Pharmaceutical Inds. Ltd. Hindustan Unilever Ltd. Mahindra & Mahindra Ltd. Wipro Ltd. Maruti Suzuki India Ltd. Dr. Reddys Laboratories Ltd. 4.02 2.65 2.60 2.49 2.06 1.91 1.90 Bharti Airtel Ltd. 1.87 Axis Bank Ltd. 1.67 Asian Paints Ltd. 1.64 Cipla Ltd. 1.64 Other Shares Grand 26.27 100 100 98.09 Money Market Instruments 0.14 Equity ETF 1.77 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Equity Fund 36.0182 1.78 6.83 4.10-1.06 3.00 10.96 10.83 Equity Index Fund 50.9706 1.91 7.21 4.90 0.32 4.44 12.44 14.61 Equity Index Pension 45.3048 1.91 7.19 4.95 0.37 4.61 12.65 13.88 Premier Equity Fund 26.6408 1.79 6.84 4.15-1.15 3.00 11.07 9.74 Equity Index Fund II 26.2486 1.90 7.12 4.27-0.61 3.87 11.79 10.19 Premier Equity Index Fund 22.8364 1.74 6.62 3.75-1.77 2.34 10.12 8.66 Growth Plus Fund III 22.7639 1.81 7.25 4.50-1.44 6.41 23.02 15.63 Equity Index Pension Fund II 26.3617 1.90 7.21 4.82 0.09 4.20 12.15 10.24 Cnx Nse Nifty Index 1.6 7.1 4.3-1.0 4.3 12.4

Pure Equity Funds To specifically exclude companies dealing in gambling, contests, liquor, entertainment (films, TV etc.), hotels, banks and financial institutions. Company Name SHARES Infosys Ltd. 5.58 81.36 Very High Nestle India Ltd. 4.02 K S B Pumps Ltd. 3.60 Reliance Industries Ltd. Wipro Ltd. 3.51 3.05 - Equity: 60-100 - Government treasury bills (Non-interest bearing): 0-40 Indraprastha Gas Ltd. Hitachi Home & Life Solutions (India) Ltd. 3.04 2.97 Pfizer Ltd. 2.90 Industry Profile Bayer Cropscience Ltd. Larsen & Toubro Ltd. 2.86 2.61 Tech Mahindra Ltd. 2.57 Technology Auto & Ancillaries Engg, Industrial & Cap Goods Oil&Gas FMCG Pharmaceuticals Metals & Mining Chemicals Banks & Financial Infrastructure Telecommunications Textiles Cement Media Transportation & logistics 4.6 4.3 2.8 2.2 2.2 2.0 1.5 1.3 1.2 10.1 12.9 12.7 12.4 12.1 17.6 Hindustan Unilever Ltd. Oil & Natural Gas Corpn. Ltd. Maruti Suzuki India Ltd. Natco Pharma Ltd. Hindalco Industries Ltd. Godrej Consumer Products Ltd. Kansai Nerolac Paints Ltd. Credit Analysis & Research Ltd. Ashoka Buildcon Ltd. 2.34 2.08 2.02 2.02 2.01 1.92 1.89 1.84 1.81 Idea Cellular Ltd. 1.79 Tata Consultancy Services Ltd. Suprajit Engineering Ltd. 1.76 1.76 Dcm Shriram Limited 1.63 Colgate-Palmolive (India) Ltd. 1.60 Money Market Instruments 18.64 Hero Motocorp Limited H C L Technologies Ltd. Aurobindo Pharma Ltd. 1.39 1.35 1.30 Other Shares 14.13 81.36 Money Market Instruments Grand 18.64 100 18.64 100 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Pure Eq Fund 47.618 3.27 7.15 2.61 3.31 14.12 24.00 15.96 Pure Stock Fund 45.6454 3.22 6.97 3.02 3.46 14.00 24.69 16.48 Pure Stock Pension Fund 36.0328 3.52 6.76 3.37 0.36 16.44 23.48 16.90 Cnx Nse Nifty Index 1.6 7.1 4.3-1.0 4.3 12.4

Blue Chip Equity Funds To provide capital appreciation through investment in equities forming part of the National Stock Exchange NIFTY Company Name High Equtiy ETF 1.78 1.8 SHARES 98.2 - Equity: Not less than 60 - Bank deposits and money market instruments: Not more than 40 Infosys Ltd. I T C Ltd. 8.69 7.87 H D F C Bank Ltd. 7.66 Industry Profile 5.93 4.53 3.12 2.84 2.64 2.36 1.68 0.72 0.46 8.59 8.06 10.63 12.28 17.41 24.68 Reliance Industries Ltd. Tata Consultancy Services Ltd. I C I C I Bank Ltd. Tata Motors Ltd. 5.30 4.36 4.18 4.16 Larsen & Toubro Ltd. 4.04 Sun Pharmaceutical Inds. Ltd. 2.65 Hindustan Unilever Ltd. 2.58 Mahindra & Mahindra Ltd. 2.50 Equity ETF 1.78 Wipro Ltd. 2.05 Maruti Suzuki India Ltd. 1.91 98.22 other 34.35 Grand 100 100.0 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Blue Chip Equity Fund 13.6778 0.12-0.06-4.44-3.81 11.15 10.70 6.25 Cnx Nse Nifty Index 1.6 7.1 4.3-1.0 4.3 12.4

Asset Allocation Funds To realize a level of total income, including current income and capital appreciation, which is consistent with reasonable investment risk. The investment strategy will involve a flexible policy for allocating assets among equities, bonds and cash Company Name GOVERNMENT SECURITIES 20.45 2.06 20.45 2.06 High Money Market Instrument Non Convertible Debentures 4.60 4.60 14.08 3.78 L I C Housing Finance Ltd. Power Finance Corpn. Ltd. 3.21 1.11 - Equity 40-90 - Debt, Bank deposits & Fixed Income Securities 0-60 - Money market instruments 0-50 Ministry Of Railways Bajaj Finance Ltd. Hdb Financial Services Limited Kotak Mahindra Prime Ltd. 0.98 0.93 0.89 0.70 Industry Profile I O T Utkal Energy Services Ltd. N T P C Ltd. I C I C I Bank Ltd. 0.53 0.32 0.28 Banks & Financial Technology FMCG Oil&Gas Auto & Ancillaries Pharmaceuticals Engg, Industrial & Chemicals Metals & Mining Transportation & Telecommunications Infrastructure Media Real Estate 12.72 11.68 9.04 7.05 7.04 6.82 5.93 4.79 2.64 1.78 1.06 0.93 0.77 27.75 Nabha Power Ltd. Other Corporate Bonds SHARES H D F C Bank Ltd. Reliance Industries Ltd. Infosys Ltd. I T C Ltd. I C I C I Bank Ltd. Yes Bank Ltd. Tata Motors Ltd. Larsen & Toubro Ltd. 0.28 1.06 5.38 3.93 3.86 3.80 2.59 2.13 2.02 1.89 58.82 Bayer Cropscience Ltd. 1.80 Axis Bank Ltd. 1.73 B A S F India Ltd. Mphasis Ltd. 1.68 1.57 1.52 Govt Securities 20.45 2.06 Money Market Instruments 4.60 58.82 Non Convertible Debentures 14.08 Hindustan Unilever Ltd. Hindalco Industries Ltd. Aventis Pharma Ltd. Nestle India Ltd. Pfizer Ltd. Indusind Bank Ltd. Tata Consultancy Services Ltd. Idea Cellular Ltd. National Aluminium Co. Ltd. Mahindra & Mahindra Ltd. Kalpataru Power Transmission Ltd. 1.52 1.43 1.38 1.34 1.33 1.31 1.17 1.05 0.96 0.94 0.93 Gujarat Pipavav Port Ltd. 0.88 Voltas Ltd. 0.80 Other Shares 9.87 Grand 100 100 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Asset Allocation Fund 23.0161 1.91 6.34 5.38 4.34 10.03 15.84 9.99 Asset Allocation Pension Fund 22.1443 1.95 6.43 5.49 4.34 10.49 16.62 9.89 Asset Allocation Fund II 13.0753 1.86 6.46 5.41 4.78 12.43 NA 12.64 Crisil Balanced Fund Index 1.4 5.5 4.7 3.1 6.8 11.3

Max Gain Funds To provide a participation in the upside of the equity market while ensuring highest unit price recorded during the policy term at maturity. The Investment strategy will include dynamic asset allocation between equities, debt and cash. It will also ensure that the gains of the fund are locked-in during the term to achieve the payment of highest unit price recorded during the policy term at maturity. Company Name High SHARES 51.9 Infosys Ltd. H D F C Bank Ltd. 4.72 4.21 - Equity & Equity Derivatives* : 0-100 - Debt and Debt Derivatives: 0 100 - Money market instruments, liquid Mutual Funds: 0-100 * as and when allowed by IRDAI I T C Ltd. Reliance Industries Ltd. Tata Consultancy Services Ltd. Tata Motors Ltd. 4.04 3.50 3.42 2.50 2.44 Industry Profile Larsen & Toubro Ltd. 2.38 Axis Bank Ltd. 1.56 5.65 5.00 3.73 3.02 2.79 2.13 1.73 0.95 11.14 10.80 10.18 18.16 24.73 Mahindra & Mahindra Ltd. Oil & Natural Gas Corpn. Ltd. Hindustan Unilever Ltd. Sun Pharmaceutical Inds. Ltd. I C I C I Bank Ltd. 1.38 1.30 1.24 1.17 1.09 Maruti Suzuki India Ltd. 1.07 Bharti Airtel Ltd. 0.96 Asian Paints Ltd. 0.90 Hero Motocorp Limited 0.89 H C L Technologies Ltd. Other Shares 0.79 12.35 51.90 Non Convertible Debentures. 25.74 25.74 Govt Securities 14.65 14.65 7.71 7.71 Non Convertible Debentures 25.74 7.71 Grand 100 100 Govt Securities 14.65 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Max Gain Fund I 16.8171 1.01 3.82 3.26 2.18 5.25 11.70 8.27 Max Gain Fund II 15.3963 1.16 4.79 4.22 2.60 5.32 11.48 7.73

Debt Funds To provide accumulation of income through investment in high quality fixed income Securities. Company Name Govt Securities Money Market Instruments 61.63 3.02 61.63 3.02 Moderate Non Convertible Debentures 35.33 4.49 L I C Housing Finance Ltd. Ministry Of Railways 4.12 3.10 - Debt Instruments, FDs & Money Market Instruments 100 Power Finance Corpn. Ltd. 2.33 Shriram Transport Finance Co. Ltd. 1.92 Bajaj Finance Ltd. 1.82 Axis Bank Ltd. 1.51 Average Maturity & Portfolio Ytm FUND CLASSIFICATION Portfolio Avg Duration YTM (in years) Nabha Power Ltd. Petronet L N G Ltd. Power Grid Corpn. Of India Ltd. 1.31 1.26 1.25 DEBT FUNDS 7.70 5.70 Leasing & Financial Services Ltd. 1.18 M R F Ltd. 1.15 Other Corporate Bonds 9.90 FIXED DEPOSITS 0.02 Grand 100.00 Rating Profile Maturity Profile Govt Securities 61.63 Money Market Instruments 3.02 0.02 A 3.02 AA 9.53 < 6 MONTHS 1.45 6-12 MONTHS 1.76 1-2 YEARS 6.35 0.02 Non Convertible Debentures 35.33 SOV 61.63 AAA 25.80 > 6 YEARS 62.92 2-4 YEARS 15.23 4-6 YEARS 12.29 FUND NAMES 1 Month 3 month 6 month 1 Year 2 year 3 year since Inception Debt Fund 21.3876 1.10 2.36 4.98 8.52 8.83 6.63 6.29 Debt Plus Fund 25.6052 0.91 2.29 4.40 8.83 9.95 8.14 8.19 DEBT PLUS PENSION 27.1292 1.30 3.21 6.37 10.92 10.87 8.56 8.97 Premier Debt Fund 21.7194 1.07 2.35 4.93 8.72 8.85 6.79 7.63 Life Long Gain 18.4969 0.99 2.14 4.72 8.55 8.73 5.94 5.28 Bond Fund 23.9313 0.99 2.39 5.41 10.04 10.64 8.52 9.14 Premier Bond Fund 19.7274 0.97 2.03 4.39 7.97 8.15 6.06 7.07 Bond Pension Fund 24.4232 0.94 2.22 4.41 8.92 10.04 8.27 9.40 Crisil Composite Bond Index 0.9 2.4 5.0 10.2 10.6 8.6

Cash Funds To have a fund that protects invested capital through investments in liquid money market and shortterm instruments. Company Name FIXED DEPOSITS Bandhan Bank Ltd 7.4 23.21 Low I D B I Bank Ltd. 5.5 Saraswat Co-Operative Bank Ltd. 3.0 Cosmos Co-Operative Bank Limited 2.7 - Money market instruments and short term debt 100 Punjab National Bank Indian Overseas Bank State Bank Of Bikaner & Jaipur 1.3 1.0 0.9 State Bank Of Hyderabad 0.8 Other 0.6 Average Maturity & Portfolio Ytm FUND CLASSIFICATION Portfolio Avg Duration YTM (in years) CASH FUNDS 8.20 0.59 Money Market Insruments Au Financiers (India) Ltd Sundaram B N P Paribas Home Finance Ltd. I C I C I Bank Ltd. Indusind Bank Ltd. Bank Of Maharashtra 9.6 7.7 7.1 7.0 6.5 76.79 The Ratnakar Bank Ltd 6.3 Development Credit Bank Ltd. 6.3 Kotak Mahindra Investment Ltd. 6.2 Other Money Market Instruments 20.0 Grand 100 100 Rating Profile Maturity Profile Fixed Deposits 23.21 Fixed Deposits 23.21 1-3 MONTHS 14.24 Money Market Instruments A 76.79 MORE THAN 6 MONTHS 66.26 3-6 MONTHS 19.50 76.79 FUND NAMES 1 Month 3 month 6 month 1 Year 2 year 3 year since Inception Cash Fund 21.2243 0.45 1.38 2.83 6.14 6.36 6.57 6.22 Cash Plus Fund 25.6942 0.63 1.95 3.90 8.22 8.43 8.58 8.22 CASH PLUS PENSION 25.8517 0.64 1.95 3.94 8.12 8.23 8.52 8.52 Liquid Fund 22.6557 0.59 1.82 3.67 7.81 8.13 8.32 8.54 Liquid Pension Fund 22.7353 0.63 1.92 3.87 7.92 8.01 8.22 8.61 Crisil Composite Liquid Index 0.6 1.9 3.9 7.9 8.3 8.8 Fund Manager Comments The funds continued to invest in highly liquid short term papers as per the mandates.

Growth Plus Funds To protect the capital as well as achieve capital appreciation over the term of 10 years. The above objective does not intend to offer any explicit investment guarantee to the policyholder. The fund strategy would be to invest in highly-rated secured debentures, corporate bonds, exchange traded funds, equities and money market instruments Company Name Non Convertible Debentures Rural Electrification Corpn. Ltd. 7.09 47.40 High Tata Sons Ltd. 7.07 6.65 Power Finance Corpn. Ltd. 6.64 Indian Railway Finance Corpn. Ltd. Other NCD 6.58 13.38 - Debentures, Corporate Bonds, Exchange Traded Funds and Equities: 80-100 - Mutual Funds and Money Market Instruments: 0-20 - Security Equtiy ETF EQUITY SHARES 16.54 0.39 16.54 0.39 35.67 Infosys Ltd. 3.15 I T C Ltd. 2.86 H D F C Bank Ltd. 2.78 2.15 Reliance Industries Ltd. 1.93 Tata Consultancy Services Ltd. 1.59 I C I C I Bank Ltd. 1.52 Tata Motors Ltd. 1.51 Larsen & Toubro Ltd. 1.47 Sun Pharmaceutical Inds. Ltd. 0.96 Hindustan Unilever Ltd. 0.94 Mahindra & Mahindra Ltd. 0.91 Wipro Ltd. 0.74 Maruti Suzuki India Ltd. 0.70 Dr. Reddys Laboratories Ltd. 0.68 Bharti Airtel Ltd. 0.66 Axis Bank Ltd. 0.62 Asian Paints Ltd. 0.60 State Bank Of India 0.54 Cipla Ltd. 0.53 Other 8.83 Grand 100 100 Rating Profile Equity ETF 0.39 16.54 AA 2.57 35.67 Non Convertible Debentures 47.40 25.86 AAA 71.57 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Growth Plus Fund I 15.881 0.67 1.86 3.92 8.33 8.63 7.60 7.41 Growth Plus Fund II 14.2513 1.82 6.96 4.54-0.06 4.25 13.92 5.93

Shield Plus Funds High To provide capital appreciation, subject to minimum guaranteed unit price at Maturity. The fund strategy would be to achieve potential upside by investing adequately in debt securities, equities, mutual funds and highly rated debentures. The Unit Price at maturity (in 10 years time) is guaranteed to be a minimum of 170 of unit price as on the date of allocation of units under a policy - Debt securities: 50-100 - Debentures: 0-50 - Mutual Funds, Equities and Money market instruments: 0-50 Company Name H C L Technologies Ltd. 1.32 M R F Ltd. 1.21 Oil & Natural Gas Corpn. Ltd. 1.16 Infosys Ltd. 1.04 Sun Pharmaceutical Inds. Ltd. 0.97 H D F C Bank Ltd. 0.84 State Bank Of India 0.78 Sun T V Network Ltd. 0.64 Wipro Ltd. 0.60 0.54 Hindustan Unilever Ltd. 0.48 Idea Cellular Ltd. 0.44 I C I C I Bank Ltd. 0.43 Other 1.47 Non Convertible Debentures Indian Railway Finance Corpn. Ltd. 9.74 Power Finance Corpn. Ltd. 9.52 Ministry Of Railways 7.94 7.67 Rural Electrification Corpn. Ltd. 7.08 Tata Sons Ltd. 7.04 L I C Housing Finance Ltd. 6.27 Idfc Bank Limited 4.20 Others 5.21 GOVT SECURITIES 8.49 14.91 Grand 100 11.93 64.67 8.49 14.91 100 Rating Profile 14.91 11.93 Govt Securities 8.49 SOV 9.64 AA 0.69 16.93 Non Convertible Debentures 64.67 AAA 72.74 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Shield Plus Fund I 16.6266 0.82 2.28 4.19 7.96 9.39 9.27 8.18 Shield Plus Fund II 16.6912 0.71 2.27 4.30 7.69 9.12 9.76 8.68 Shield Plus Fund III 16.2623 0.79 2.45 4.44 8.11 9.38 9.60 8.60 Shield Plus Fund IV 15.4207 0.71 2.35 4.34 7.32 7.89 8.45 8.68

Guaranteed Bond Funds The investment objective of this fund is to provide capital appreciation by investing in a suitable mix of debt and debt related securities. Company Name Medium - Debt and Debt related securities: 0-100 - Mutual Funds and Money market instruments: 0 to 40 Non Convertible Debentures 50.38 Rural Electrification Corpn. Ltd. 9.0 6.7 Indian Railway Finance Corpn. Ltd. 6.7 Power Finance Corpn. Ltd. 6.5 Idfc Bank Limited 6.4 Power Grid Corpn. Of India Ltd. 5.7 Other Corporate Bonds 9.3 FIXED DEPOSITS 26.94 State Bank Of Travancore 8.0 I D B I Bank Ltd. 7.1 State Bank Of Bikaner & Jaipur 5.3 Other FD 6.6 GOVT SECURITIES(GSE) 22.7 22.68 Money Market Instruments 0.1 0.06 Grand 100 100 Rating Profile Govt Securities 22.68 26.94 Non Convertible Debentures 50.38 26.94 SOV 22.68 AAA 50.38 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Absolute Guaranteed Bond Fund 14.7881 0.72 2.23 4.49 9.03 9.53 8.06 8.93 Crisil Composite Bond Index 0.9 2.4 5.0 10.2 10.6 8.6 * are Absolute

Assured Return Funds To provide capital appreciation by investing in a suitable mix of debt and equities. Company Name Non Convertible Debentures. 53.50 Rural Electrification Corpn. Ltd. 9.23 8.12 - Equity- 0-50 - Debt - 0-100 - Mutual Funds and Money market instruments: 0-40 Ministry Of Railways 7.89 Power Finance Corpn. Ltd. 6.22 Export-Import Bank Of India 5.27 Tata Sons Ltd. 5.20 Other NCD 11.56 10.57 10.57 GOVT SECURITIES(GSE) 35.93 35.93 Grand 100 100 Rating Profile Govt Securities 35.93 Non Convertible Debentures 53.50 10.57 AAA 53.50 10.57 SOV 35.93 FUND NAMES 1 month 3 month 6 month 1 year 2 year 3 year since Inception Assured return fund 15.197 0.71 2.10 4.37 8.60 9.28 7.69 8.02

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER Safeguard your family s dreams with security, stability and growth Bajaj Allianz Life Principal Gain save tax ^ Guaranteed Builder Portfolio Strategy ^(Conditions Apply) Presenting Bajaj Allianz Life Principal Gain regular and limited premium payment endowment insurance plan. The key advantages of the plan are as mentioned below:- # - a guaranteed, non-participating, unit linked, individual, Triple benefit of principal protection, potential of high returns and life cover. Guaranteed Loyalty Additions (GLA) payable at maturity*. Multiple policy term and premium payment term options to choose from. Ease of payment with Yearly and Monthly payment frequency. Sum Assured of 10 times of the chosen annual premium. Option to take maturity benefit in installments (Settlement Option), spread over a maximum period of 5 years. Professionally managed funds. * For policy term up to 10 years 4 of annual premium, For policy term more than 10 years 15 of ^ annual premium. GLA are subject to payment of minimum 5 years premium. Premium, net of premium allocation charge, will be allocated to 2 specific Funds. Do read the sales brochure on #. (Conditions Apply) /BajajAllianzLifeInsurance BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that - IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number. Bb C BEST CORPORATE BRANDS 2016 Risk Factors and Warning Statements: IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life Principal Gain are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. In this policy, the investment risk in investment portfolio is borne by the policyholder. Unlike traditional products, Bajaj Allianz Life Principal Gain is a Unit-Linked Endowment Insurance Plan (ULIP). Investment in ULIPs is subject to risks associated with the capital markets. The policy holder is solely responsible for his/her decisions while investing in ULIPs. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on ) carefully before concluding a sale. All charges/ taxes, as applicable, will be borne by the Policyholder. Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility. Bajaj Allianz Life Principal Gain - A Guaranteed Maturity Unit-Linked Insurance Plan. Regd. Office Address: G.E Plaza, Airport Road, Yerawada, Pune - 411006 Reg. No.: 116. Mail us : customercare@bajajallianz.co.in Call on : Toll free no. 1800 209 7272 Fax: (020) 6602 6789 BALIC CIN : U66010PN2001PLC015959, Bajaj Allianz Life Principal Gain - UIN : 116L137V01. The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its Bajaj Logo and Allianz SE to use its Allianz logo. By submitting your contact details or responding to Bajaj Allianz Life Insurance Co. Ltd., with an SMS or Missed Call, you authorize Bajaj Allianz Life Insurance Co. Ltd. and/or its authorized Service Providers to verify the above information and/or contact you to assist you with the purchase and/or servicing. BJAZ-O-1734 /5-Mar-16